EMCC European Monitoring Centre on Change

Czech Airlines (ČSA)

Company/Organisation:
Czech Airlines (ČSA)

Geographic Location

Country: Czechia

Company

Sector: Transportation / storage
Transportation and storage
51.10 - Passenger air transport
Number Employed: 430
Group: Smartwings

Employment Effects

Announcement Date: 23-02-2021
Planned Job Reductions min: 430
Planned Job Reductions max: 430
Type of Restructuring: Bankruptcy
Employment Effect Start: 23-02-2021
Foreseen End Date: 31-12-2021
Direct Dismissals: 430

Additional Information

The national air carrier Czech Airlines (ČSA) has announced a mass redundancy due to insolvency which will affect all its 430 employees during 2021. The airline has been hit by the effects of the COVID-19 pandemic. The Smartwings aviation group, to which the Czech Airlines belong, asked the state for financial assistance in the amount of CZK 1.1 billion (€42 million) for Czech Airlines at the beginning of February 2021. According to the Minister of Industry and Trade, the state is not planning to help.

Last year, Czech Airlines recorded a loss of about CZK 1.5 billion (€57.4 million).
 

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